Armenia-Russia trade turnover reached a record $11.7 billion in 2024 – Putin

YEREVAN, September 26. /ARKA/. In 2024, trade turnover with Armenia reached $11.7 billion, a record figure, Russian President Vladimir Putin said at a meeting with Armenian Prime Minister Nikol Pashinyan.

"According to our statistics, Armenia's trade turnover with Russia is $11.7 billion. This is a record figure for 2024," he said.

Putin noted that, overall, bilateral relations are developing steadily and well, with trade currently amounting to almost $11 billion.

"Relations are developing in all other areas as well. We always have topics for discussion, even though we only saw each other recently," Putin said.

Pashinyan, in turn, also said that relations are developing steadily. "You mentioned mutual trade turnover. True, there has been a slight decline this year, due to certain global processes, but I believe it's important to work on this topic so that our mutual trade continues to grow at the pace we've set for 2023-2024," he said, adding that the bilateral agenda is very rich and the parties always have much to discuss.

Russia has traditionally been Armenia's largest foreign trade partner. According to Armstat, trade turnover between Armenia and Russia amounted to approximately $4 billion in the first seven months of this year, a 52.1% decrease compared to the same period last year.